The past two weeks this pair has been fairly difficult to predict as on the daily time frame we still appear to be in a range. However what I have notice on he 2hr time frame , price seems to be in a up trend with high highs being created and higher lows. 122.000 seems to be a stalling point currently if we close above 122.000 on a 2hr candle , price may possible...
Prices are currently stuck between H4 KS and H4 TS.
As shown in the chart, I think we can see more downside pressure the week ahead as long as H4 KS is not broken. Prices are well down below KUMO and we are seeing a resistance on H1 at around 0.85350.
SL at around 0.85650
Entry below 0.85
TP 0.835 /38.20% fib retracement
Watch out carefully any macro event...
The pair on the weekly shows the Chiku Span (as shown in red) which crossed its KUMO which is a big sign of bullishness.
I think the pair can correct a little bit on H4 TS and then rebound strongly.
It could reach 78.60% fib level at around 87.40.
SL at around 83.00
Technically: The chart may complete 5th daily wave which has not yet
Fundamentally: The Canada fundamentals are much weaker than the USA
Your comments are appreciated
We have confirmed billish divergenence when we see confirmed green candle painted by indicator. The best is when you disable color of candle sticks at all. Look for stealth entry on candle before confirmation.
As you can see in the chart the price rejected the top of the downward channel. Good to short here when the markets open next week.
SL: 118.800
TP: 102
Channel breakout at play here. As you can see price broke out from the bigger downward channel in the weekly timeframe. and in H4 it has broken out of the smaller upward channel.
SL: 80.2
TP: 89.5
As you can see price has potential to form a libra pattern. Good to long at least until it reaches the top of the downward trendline.
SL1.03392
TP: 1.1115
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14-period ADX is above 30 and rising
Retracement down to 20-period simple moving average (SMA)
Place buy order at the high of the bar that touches 20-period SMA
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